The present invention is directed to a piezo magnetostrictive device suitable as a stand alone power generating device for powering electronic devices or as a component of a radio frequency identification device (RFID) of a type which may be utilized for monitoring various functions of a tire such as numbers of rotation, speed, or air pressure. Patents which show the use of RFID devices for use with tires include my U.S. Pat. No. 7,504,947. Other devices, including RFID devices, which may be incorporated on a surface of or within the structure of a tire for monitoring various functions relative to the tire include the following U.S. Pat. Nos. 5,562,787; 5,741,966; 6,062,072; 6,856,245; 6,897,770; 7,009,576; and 7,186,308. The disclosures contained in these patents are incorporated herein by reference.